B. Riley Upgrades Universal Electronics (NASDAQ:UEIC) to “Buy”

Universal Electronics (NASDAQ:UEIC) was upgraded by equities research analysts at B. Riley from a “neutral” rating to a “buy” rating in a report issued on Monday, Marketbeat reports. The firm presently has a $14.00 price objective on the technology company’s stock, up from their previous price objective of $11.00. B. Riley’s price target would indicate a potential upside of 31.09% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Rosenblatt Securities raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday, November 8th.

Universal Electronics Trading Down 2.7 %

UEIC stock opened at $10.68 on Monday. The firm has a 50 day simple moving average of $8.67 and a 200-day simple moving average of $10.28. The company has a market capitalization of $138.63 million, a P/E ratio of -5.21 and a beta of 1.13. Universal Electronics has a twelve month low of $7.17 and a twelve month high of $14.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UEIC. Bank of New York Mellon Corp bought a new stake in Universal Electronics in the second quarter valued at $122,000. Sei Investments Co. acquired a new position in Universal Electronics during the 2nd quarter worth $212,000. Empowered Funds LLC grew its position in Universal Electronics by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock valued at $380,000 after buying an additional 2,800 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Universal Electronics by 4.3% during the 3rd quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock worth $496,000 after buying an additional 2,203 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Universal Electronics by 15.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock worth $609,000 after acquiring an additional 8,706 shares during the period. Institutional investors and hedge funds own 79.35% of the company’s stock.

Universal Electronics Company Profile

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.